Apr. 18, 2024: Mortgage rates are now at the highest level of the year, and could still climb.

The average rate on a 30-year mortgage crossed 7% again on April 1st and is now hovering around 7.5% according to Mortgage News Daily. "Despite these higher rates, application activity picked up, possibly as some borrowers decided to act in case rates continue to rise", said Joel Kan, MBA's chief economist.